Acergy S.A. announced today that it has been awarded a new four year contract for the Polar Queen by Petrobras in Brazil, with an option for an additional four years.

This contract, valued at approximately $260 million for the first four years, is for the provision of flexible laying services, offshore Brazil. The contract is due to commence in early 2010.

Bruno Chabas, Acergy Chief Operating Officer, said: "We are pleased to have been awarded this contract which demonstrates the continued confidence of Petrobras in Acergy. It builds upon our excellent operational and safety track record of working with Petrobras and demonstrates the high degree of client satisfaction with our operational capabilities and our strong local organisation."